Profit per partner tops $1.2m at Hogan Lovells as revenues rise February 27, 2014 PROFIT per partner at Hogan Lovells increased by 10 per cent to top $1.2m (£720,000) last year, the City law firm said yesterday, as both revenues and profits rose to record highs. Fees incomes increased by 5.2 per cent to $1.72bn in 2013, compared to $1.63bn in 2012, while revenues per lawyer were up 3.7 [...]
Derwent assets soar in value February 27, 2014 Derwent London said its net asset value leapt by almost a quarter last year after agreeing a record £21.8m of lettings as companies flocked to take up space in its buildings. Net asset value soared by 23.6 per cent to £2.37bn in 2013. The developer said its office scheme the Buckley Building in Farringdon are [...]
Countrywide eyes £1bn rental fund February 27, 2014 Countrywide said yesterday it was on the hunt for a partner to help it build a £1bn fund to invest in rental property, as it posted its first profit since returning to the stock market. Britain’s biggest estate agency said it had committed £20m of its own capital to buy a portfolio of rental properties. [...]
FCA bans former CIB Partners boss February 27, 2014 The City watchdog, the Financial Conduct Authority, has banned the former chief executive of the now defunct advisory firm CIB Partners from ever working in financial services, after he was found to have misled investors about the strength of certain bonds. The watchdog said Arnold Eber gave misleading impressions about the health of bonds issued [...]
Merlin conjures up more visitors after UK listing February 27, 2014 NEARLY 60m people visited attractions operated by Alton Towers owner Merlin Entertainments last year, boosting revenues by almost 11 per cent. The visitor numbers, equivalent to the entire population of the UK, was up 10.7 per cent on 2012, with increasing numbers visiting Merlin attractions like Madame Tussauds, the Sea Life centre, Warwick Castle, Thorpe [...]
Inside Track: London’s 2014 flotations get off to a promising start February 27, 2014 THERE have been weeks of anticipation. Now it’s time for early evaluation as the first London new issues of 2014 start trading. Which way the newly issued shares trade can set the mood for the rest of the year – or at least provide an indication of the appetite of the institutions for newly-listed stocks. [...]
Blackstone wins beauty parade to land a 20pc stake in Versace February 27, 2014 ITALIAN fashion houses and Wall Street buyout firms are not obvious bedfellows – unless they happen to be Versace and Blackstone. The suave Italian fashion outfit, founded by the late Gianni Versace who was murdered in 1997, yesterday said it had picked Blackstone to take a 20 per cent stake in the company in return [...]
O2 sees revenue plunge despite new customers February 27, 2014 BRITAIN’S second-largest mobile network, O2, has seen revenues decline despite now having over one million 4G users and signing up more customers than either of its two main rivals in the final quarter last year. O2, owned by Spain’s Telefonica, said mobile service revenue in the fourth quarter fell 6.1 per cent year-on-year to £1.12bn [...]
Senior banker spins wheels of steel in the City February 27, 2014 HOW MANY budding DJs do you know? Chances are you might know a fair few. This is what Ali Miraj, a senior banker is, er, banking on in setting up Decks In The City – a monthly night in The Horse and Groom in Shoreditch that invites secret DJs from the financial and creative industries to [...]
Celebrity chefs treat financiers at Carpenters’ Hall for FoodCycle February 27, 2014 DINERS from the likes of Rothschild Advisors, New Amsterdam Capital and Spayne Lindsay were in for a treat when they showed up at Carpenters’ Hall on London Wall last night, for the FoodCycle Mardi Gras Feast last night. A champagne reception with canapes by Salt Yard’s Ben Tish was followed by a rather special banquet. [...]